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The original item was published from 3/25/2016 10:11:42 AM to 4/4/2016 12:00:07 AM.

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City of Allen Headline News

Posted on: March 28, 2016

[ARCHIVED] Allen Receives Clean Audit, Prestigious Accounting Award

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Despite a massive transition to new financial software, an annual audit of City funds found no errors or operational issues. For the eighth consecutive year, Allen received an unmodified or “clean” audit for the fiscal year ending September 30, 2015. Accounting firm Weaver and Tidwell, L.L.P. performed the audit, which was presented during the March 22 City Council meeting.

The findings are especially remarkable due to Allen’s recent overhaul of the City’s financial software. Allen transitioned to a new system to handle purchase orders, requisitions, cash receipts, project ledger, fixed assets, and accounts payable in August 2015.

The clean audit is the latest success for Allen’s Accounting Division. The City also earned the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting for the seventeenth consecutive year. The latest award recognizes cities for clearly disclosing each year’s Comprehensive Annual Financial Report (CAFR) and presenting the information in an easy-to-read format. The latest award recognized the CAFR for the fiscal year ending September 30, 2014.

The CAFR for fiscal year 2015 has been submitted to the GFOA for consideration in next year’s awards.

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